Sapphire Ventures, LLC logo

Sapphire Ventures, LLC

Multi-stage venture firmSEC-registered adviserClassification probable· Austin, TexasSAPPHIREVENTURES.COM

Sapphire Ventures partners with enterprise AI founders building companies of consequence.

In the firm's own words, from its website.

Reported fund assets
$8.2B
sum of its funds' Form ADV filings, last 30 months
New companies, 12 mo
5
Investment team
32
Latest vintage
2025
Contact decision makers
More
Ask DFX about thisView relationshipsFind contactsInvestments (146)Team (71)Funds
As of · the latest observation of this organization; filed figures are as of its latest Form ADV

70 additional team members, 37 additional co-investors and affiliates, 174 additional investments, funds and LPs, 50 events, 51 verified contacts (50 professional url, 1 firm phone)

Every relationship, signal and contact on this record, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

What matters now

  1. 1 vehicle
    on Form D, 18 months

    $1.54B reported sold so far.

    A Form D is filed when a vehicle takes its first money, so these are open to LPs now.

    FactSEC Form D filingsFor LPs, fund-of-funds, placement agentsVehicles →
  2. 5 companies
    new in 12 months

    5 new companies in the last 12 months.

    A firm writing cheques this quarter is one a founder can pitch now.

    Factfunding announcements, Form D, the firm's portfolio pageFor Founders, co-investorsInvestments →
  3. 1 company
    portfolio raising

    One portfolio company has new financing on record in 6 months without this firm named on the round; the latest on 26 May 2026 ($25.2M sold on Form D).

    A portfolio company raising again is a follow-on decision for the firm and a co-investment opening for others.

    FactSEC Form D filingsFor Co-investors, LPs, lendersInvestments →
  4. 13 deals
    with Sequoia Capital

    Invests most often alongside Sequoia Capital (13 shared deals) and Institutional Venture (12 shared deals).

    pair last observed on record 1 Oct 2026, not a deal date · The firms it syndicates with are the likeliest to see the same deals and to fill out its rounds.

    Measuredshared rounds and portfolio companies on recordFor Founders building a round, co-investorsCo-investors →
  5. 3 of 3
    enter at Series B+

    Enters mostly at Series B or later: 3 of 3 first entries on record.

    rounds to 11 Feb 2026 · Tells a founder whether their round is one this firm writes.

    Derived3 rounds with a stated stage, against the firm's siteFor FoundersInvestments →

People to know

View all people
  • Anders Ranum
    Partner
    Why: Partner: part of the investment decision
    No route on file yet
  • Andreas Weiskam
    Partner
    Why: Partner: part of the investment decision
    No route on file yet
  • Nino Nikola Marakovic
    Managing Member, Partner, Chief Executive Officer
    Why: Runs the firm (chief executive or president)
    No route on file yet

Relationship network

301 connected entities24 observed rounds6 repeat counterparties5 dated rounds shown here, 2011 to 2025

From financing rounds and every investor named in them, Form ADV and Form D filings, the firm's funds and team, and disclosed LP commitments in the venture capital graph. A round's amount is the size of the round, not money that moved between two investors.

Some relationships on this record are counted rather than named here. They open with the full profile.

Click any name or line for the rounds and sources behind it. Line weight is rounds together; dashed lines are inferred.

What stands out
Reading the network
  • Sponsor
  • Company
  • Capital provider
  • Fund or vehicle
  • Person

Co-investors are read from the rounds: three or more shared rounds is a strong observed relationship, two a repeat co-investor, one a single round. Funds and people are structural. Nothing is scored that a reader cannot check.

Darker lines were active in the last 24 months or are current; lighter lines are older or undated.

How am I connected?

Name your firm, a company or a person, and DFX finds the published routes to Sapphire Ventures, LLC: a shared portfolio company or board, a prior employer, a co-investor, a shared LP or service provider. Every step is a filed or published record with its source; none is a guess about who knows whom.

See how you connect to Sapphire Ventures, LLC

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Investing

146 companies on record, 5 new in 12 months
Investments on record
146 companies, 22 partner-attributed
CompanyRoundRolePartnerRound sizeThis investorDateSource
23andMeportfolio listingunknownunknownunknownunknownSep 30, 2026Fact Firm website
6senseportfolio listingunknownunknownunknownunknownSep 30, 2026Fact Firm website
ActivTrakportfolio listingunknownunknownunknownunknownSep 30, 2026Fact Firm website
Stated thesis versus observed behaviour
173 observed deals
Stated (the firm’s website)
Sectors
ai, enterprise software, biotech
Stages
not stated or not yet read
Geography
austin
Check size
not stated; DFX does not estimate checks from round sizes
Observed (from deals on record)
Stage at participation
series c 67%series b 33%
Stage at first entry
series c 67%series b 33%
Industries, each company once
Hardware and deep tech, Software or Tech-enabled and IT services (4)
lead rate 20%follow-on rate 31%new companies, 12 months 5

Team

71 current, 9 departed
Decision makers
who to call first, and why; then everyone else by function
  • Anders Ranum · Partner
    Why this person: Partner: part of the investment decision; Named with investment responsibility
  • Andreas Weiskam · Partner
    Why this person: Partner: part of the investment decision; Named with investment responsibility
  • Nino Nikola Marakovic · Managing Member, Partner, Chief Executive Officer
    Why this person: Runs the firm (chief executive or president); Named with investment responsibility

Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.

Investment team
71 current, 9 departed
9 departed (kept with end dates)
Contacts
1 firm phone, 50 professional url

1 firm phone, 50 professional url on record, each with its source. Values open with the complete profile.

Funds and LPs

29 vehicles, 1 LPs disclosed
Funds and vehicles
29 reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
Sapphire Ventures Fund VII, L.P.Fund2025 form d first saleFundraising$74.6M
Jul 30, 2026
3$1.5BAug 20, 2026
Sapphire Emerging Ventures VIIFund2025 lp reportedEarly deploymentunknownunknownunknownunknown
Calstrs New and Next Generation Manager Fund III, L.P.Fund2024 adv first reportedEarly deployment$349M
Mar 29, 2024
2unknownunknown
Limited partners
1 LPs, 4 disclosed commitments
Known LPs and allocators
7 relationships across the firm's funds, from public pensions and the allocator graph
AllocatorTypeFundAmountDateSource
California State Teachers' Retirement SystemSTATE RETIREMENT SYSTEMCalstrs New and Next Generation Manager Fund IV, L.P.$338M
committed
reported as of Jun 30, 2025Fact Pension disclosure
California State Teachers' Retirement SystemSTATE RETIREMENT SYSTEMSapphire Emerging Ventures VII$125M
committed
reported as of Jun 30, 2025Fact Pension disclosure
California State Teachers' Retirement SystemSTATE RETIREMENT SYSTEMCalstrs New and Next Generation Manager Fund I, L.P.$100M
committed
reported as of Jun 30, 2025Fact Pension disclosure

Relationships across DFX

187 co-investors · on 2 other DFX graphs
Co-investors
187 counted from shared deals, for the whole firm
Across DFX and the capital chainon 2 other DFX graphs · 18 capital paths Show
Across DFX
  • The same institution is held on Allocators, RIA and Wealth, matched by identifier. See which records
Across the graphs

Sapphire Ventures, LLC is the same institution as 2 records in Allocators and RIA and Wealth.

Allocators1RIA and Wealth1

DFX found 2 relationships across 2 datasets

Which record it is in each graph, what it is called there, and how the two were matched.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Checking your plan…

Capital chain

Sapphire Ventures, LLC sits on 18 traced paths of capital across the graphs.

Allocator to VC fund to manager to company

DFX traced 18 paths of capital through this record

Every record on each path, what it committed or lent, and as of when.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.

Checking your plan…

Evidence and history

55 dated events, 91 observations from 4 sources
Timeline
55 dated events
  1. Jul 30, 2026
    Sapphire Opportunity Fund IV, L.P. first reported on Form ADV by Sapphire Ventures, LLC (Venture Capital Fund), GAV $164,211,115
    Fund first reported on Form ADVFundsInferenceSapphire Opportunity Fund IV, L.P.Form ADV
  2. Jul 30, 2026
    Sapphire Opportunity Fund Iv-B, L.P. first reported on Form ADV by Sapphire Ventures, LLC (Venture Capital Fund), GAV $25,083,795
    Fund first reported on Form ADVFundsInferenceSapphire Opportunity Fund Iv-B, L.P.Form ADV
  3. Jul 30, 2026
    Sapphire Ventures Fund VII, L.P. first reported on Form ADV by Sapphire Ventures, LLC (Venture Capital Fund), GAV $23,674,541
    Fund first reported on Form ADVFundsInferenceSapphire Ventures Fund VII, L.P.Form ADV
  4. Jul 30, 2026
    Sapphire Ventures Fund Vii-B, L.P. first reported on Form ADV by Sapphire Ventures, LLC (Venture Capital Fund), GAV $5,341,513
    Fund first reported on Form ADVFundsInferenceSapphire Ventures Fund Vii-B, L.P.Form ADV
  5. Aug 22, 2025
    Sapphire Ventures, LLC filed the first Form D for Sapphire Ventures Fund VII, L.P. (fund 7), its next fund after Sapphire Ventures Fund VI, L.P. (vintage 2022)
    Fund next filedderived signalInferenceSapphire Ventures Fund VII, L.P.no URL
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Jul 30, 2026 · 18 private fundsShow
Headquarters
Austin, TXadviserinfo.sec.gov
Office address
unknownadviserinfo.sec.gov
Business phone
unknownadviserinfo.sec.gov
Website
SAPPHIREVENTURES.COM
SEC adviser type
Registered investment adviseradviserinfo.sec.gov
SEC exemption claimed
unknown
Latest Form ADV
Jul 30, 2026
Private funds reported
18 (18 venture capital funds)adviserinfo.sec.gov
Private fund gross assets, adviser total
$8.2Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Regulatory AUM
$10Bthe adviser's RAUM, a regulatory measure, never a fund size
Employees
72
Classification history
Every classification this record has carried4 on recordShow
  1. Sep 23, 2026
    Multi-stage venture firm (probable, 80%)
    Both early and growth/opportunity families, reported GAV $9.9B
  2. Sep 15, 2026
    Multi-stage venture firm (probable, 80%)
    Both early and growth/opportunity families, reported GAV $10.8B
  3. Sep 13, 2026
    Multi-stage venture firm (probable, 80%)
    Both early and growth/opportunity families, reported GAV $10.0B
  4. Sep 12, 2026
    Multi-stage venture firm (probable, 80%)
    Both early and growth/opportunity families, reported GAV $10.1B
Evidence
91 observations from 4 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
Why admittedVC funds reportedJul 30, 2026FactForm ADV
SEC adviser typeRegistered investment adviserJul 30, 2026FactForm ADV
SEC adviser typeRegistered investment adviserJul 30, 2026FactForm ADV
SEC adviser typeRegistered investment adviserMar 29, 2024FactForm ADV
First Form ADV filing2012-03-15Jul 30, 2026FactForm ADV
First Form ADV filing2012-03-15Mar 29, 2024FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-29Sep 30, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-25Sep 26, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-23Sep 24, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-21Sep 23, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-22Sep 23, 2026FactForm ADV
Adv history loadedadv-hist-1Sep 12, 2026FactForm ADV
Latest Form ADV filing2026-07-30Jul 30, 2026FactForm ADV
Latest Form ADV filing2026-07-30Jul 30, 2026FactForm ADV
Latest Form ADV filing2024-03-29Mar 29, 2024FactForm ADV
SEC statusApprovedJul 30, 2026FactForm ADV
SEC status effective2012-06-29Jul 30, 2026FactForm ADV
Venture share of reported funds1Jul 30, 2026FactForm ADV
Venture share of reported funds1Mar 29, 2024FactForm ADV
Business phoneJul 30, 2026FactForm ADV
Business phoneMar 29, 2024FactForm ADV
Contact page urlSep 30, 2026Factno URL
Contact page urlSep 16, 2026Factno URL
DescriptionSep 30, 2026Factno URL
DescriptionSep 16, 2026Factno URL
DescriptionSep 13, 2026Factno URL
Employees72Jul 30, 2026FactForm ADV
Employees86Mar 29, 2024FactForm ADV
HeadquartersAustin, TXJul 30, 2026FactForm ADV
HeadquartersAustin, TXMar 29, 2024FactForm ADV
Office addressJul 30, 2026FactForm ADV
Office addressMar 29, 2024FactForm ADV
Legal formLimited PartnershipJul 30, 2026FactForm ADV
Portfolio pageSep 30, 2026Factno URL
Portfolio pageSep 16, 2026Factno URL
Portfolio pageSep 13, 2026Factno URL
Private funds reported18Jul 30, 2026FactForm ADV
Private funds reported18Jul 30, 2026FactForm ADV
Private funds reported24Mar 29, 2024FactForm ADV
Private fund gross assets (reported)$8.2BJul 30, 2026FactForm ADV
Private fund gross assets (reported)$8.2BJul 30, 2026FactForm ADV
Private fund gross assets (reported)$11BMar 29, 2024FactForm ADV
Regulatory AUM (adviser, not fund size)$10BJul 30, 2026FactForm ADV
Regulatory AUM (adviser, not fund size)$11BMar 29, 2024FactForm ADV
Schedule a diffsadiff-1Jul 30, 2026FactForm ADV
Stated geographyaustin
“geography words on the home page”
Sep 30, 2026Factno URL
Stated geographyaustin
“geography words on the home page”
Sep 16, 2026Factno URL
Stated geographyaustin
“geography words on the home page”
Sep 13, 2026Factno URL
Stated sectorsAI, enterprise software, biotech
“sector words on the home page”
Sep 30, 2026Factno URL
Stated sectorsAI, enterprise software, biotech
“sector words on the home page”
Sep 16, 2026Factno URL
Stated sectorsAI, enterprise software, biotech
“sector words on the home page”
Sep 13, 2026Factno URL
Team pageSep 30, 2026Factno URL
Team pageSep 16, 2026Factno URL
Team pageSep 13, 2026Factno URL
Venture funds reported18Jul 30, 2026FactForm ADV
Venture funds reported18Jul 30, 2026FactForm ADV
Venture funds reported24Mar 29, 2024FactForm ADV
WebsiteSep 12, 2026FactForm ADV
WebsiteMar 29, 2024FactForm ADV
Site titleSep 30, 2026Factno URL
Site titleSep 16, 2026Factno URL
Site titleSep 13, 2026Factno URL
How this is scored
Scores, classification basis and filing advisersMulti-stage venture firm, probableShow
Importance
91
high
Active deployment
44
elevated
Emerging
0
low
Freshness
100
high
Multi-stage venture firm · probableSEC registered investment adviser

Both early and growth/opportunity families, reported GAV $9.9B

The inputs behind each score
importance
gav: $1 · funds: 1 · people: 1 · investments: 0.83 · co investors: 0.92
active deployment
investments 12m: 0.63 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: 2026-06-11
emerging manager
fund count: 29 · reported gav: $8.2B · first adv filing: 2012-03-15 · years since first filing: 14.5

Fits, record history and connections

scored matches for this investor, every identity change, every edge

Fits

13 scored matches, best firstas of
  • score 46.6confidence 90%
    Why: stage fit; activity; cap table
  • score 39.9confidence 90%
    Why: stage fit; activity; cap table
  • score 39.9confidence 90%
    Why: stage fit; activity; cap table

+10 more scored matches

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Scored by DFX match engines from the record's observed portfolio, stage, geography and recent activity. A fit is a reason to look, not a mandate; the blockers say what the model could not confirm. Names and the evidence sentences show with the names on this page.

Record history

2 dated events on the change ledger, latest event first
  • LP commitment disclosed
    2025-06-30source on record
  • Adviser's first ADV filing
    2012-03-15source on record

The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.